On the last day of 2022, Brendle&Garcia Energy Consultants acquire a rooftop solar panel array from Zejians Sun Machines for $200,000 installed on the first day of the year. The panels are expected to meet 95% of the electricity demands for a new casino in downtown LA. The equipment is expected to have a useful life of 12 years, after which it will have an estimated value of $20,000.

How much is 2023 depreciation expense if they use the straight-line method?

Group of answer choices

$16,667

$15,000

$16,000

$1,667